Changes related to the Personal Income Tax like increasing the limits under Section 80C and hiking the tax slabs in a big way may not happen. A marginal increase in the tax slab as in the previous budget may be the best that individuals can expect. Implementing and change in the 80C limit of increasing… Read More »
The New Direct Tax Code talks of talks of going for EET for most of the favoured investment and savings avenues of Indians today. Life insurance, provident funds and superannuation are the schemes that will be affected. The New Pension Scheme had at the time of launch itself been under the EET regime. The budget… Read More »
How about saving for retirement while simultaneously enjoying tax benefits? Then how about investing in pension funds? You can opt for pension funds offered by both insurance companies as well as mutual funds. However be warned that while you don’t pay tax on investing, you will have to pay tax on the pension.
Usually July 31st is the last date for filing tax returns. It is important to file the returns on time in order to avoid paying penalty. Besides it is a mandatory requirement of the government. Any person whose gross salary exceeds the basic exemption limit is required to file his income tax returns.
Auto major Mahindra & Mahindra said that it will enter into the motorcycle market with an entire range of products in this year and also it is yet to decide on continuation of its joint venture with French auto manufacturer Renault during the next 45 days. Anand Mahindra, who is the Mahindra & Mahindra vice-chairman… Read More »
RBI has recommended that the BPLR system be replaced by a base rate system below which no lending can be done. This recommendation comes in the backdrop of the BPLR system failing to achieve what it was originally intended for – transparency in lending rates charged by banks. The report submitted by the working group… Read More »
The evolution of the BPLR can be traced back to September 1990 when the first attempt to rationalize the administered lending rate structure was made by removing multiplicity and complexity of interest rates. According to this structure, the advances of scheduled commercial banks were divided into six slabs and progressively higher interest rates were prescribed… Read More »
All loans given after 01 April 2010 will be calculated as Lending rate =Base rate + X. The variable X will be based on parameters fixed by the banks which could include Operating costs, duration of loan, risks involved etc. This would also include charges relating to specific borrowers.
Many of us are under the false belief that credit cards are a form of extra money! We need to understand that it is still going to be shelled out from your next month’s pay cheque. If you think you can get away with paying only minimum amount due, don’t forget that your interest… Read More »
In SIP, if the investor wants to invest Rs.30, 000 per annum it would be done over a 12 month period of Rs. 2500 every month! SIP gives you the advantage from rupee cost averaging and saves you from the hassles of timing the market. You contribute a fixed amount every month and when the… Read More »